French broadcaster Canal+ shares fall 13% in London listing after spinoff from Vivendi

Shares in French broadcaster Canal+ dropped over 13% after their London stock market debut following Vivendi’s decision to spin off the company last week. The media holding company’s shareholders approved the move, separating Canal+ from its pay TV and production business, including live sports broadcasting and Studiocanal, the producer of the Paddington film franchise. The stock was trading at 252 British pence ($3.19) at 9:13 a.m. London time, marking a 13.1% decrease from the opening price.

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